Aloha and welcome to The Oahu Quarterly Luxury Market Report from List Sotheby’s International Realty, where we take a closer look at the most recent real estate activity here on Oahu.
The Oahu luxury home market report is broken down into four single-family home categories and two condominium price segments.
Single-family home sales for Q2 2021 priced from $1 to $2 million increased 148.9% compared to Q2 2020, with 443 homes sold in the quarter versus 178 homes in the same period a year ago. Months’ supply of inventory decreased 50.7% compared to last year, down to just 2.8 months of inventory.
For single-family homes in the $2 to $3 million range, sales climbed from 15 in Q2 2020 to 88 in Q2 2021, an impressive increase of 486.7% from the year prior. Months’ supply of inventory decreased 71.4% to 3.9
months for the quarter.
In the $3 to $5 million range, 31 single-family homes sold in Q2 2021, 342.9% higher than the same quarter last year. Months’ supply of inventory declined 60.9% to 7.2 months from 18.4 months in Q2 2020.
Eleven single-family homes sold at or above $5 million in Q2 which includes five in Windward Oahu, three in the Kahala area, two in East Oahu and one in Niu Beach. The top sale was at $9,000,000 for a home
As for condominiums, there were three sales in Q2 at or above $5 million which includes units at The Ritz-Carlton Residences, 3003 Kalakaua, and Park Lane. The unit at The Ritz-Carlton Residences was
the top sale at $6,498,000.
Sales in the $800 thousand to $1 million range increased 115.9% in Q2 2021 from Q2 2020, with 95 closed sales in Q2 2021 versus 44 closed sales in the second quarter last year. Months’ supply of inventory was down 43.5% to 5.4 months from 9.5 months in Q2 2020.
Sales for condos priced at $1 million and higher increased 382.1% in Q2 2021 compared to Q2 2020, from 28 sales during Q2 2020 to 135 during Q2 2021. Months’ supply of inventory decreased 35.2% compared to Q2 2020, to 9.4 months.
Remember that every home and situation is unique. For guidance with your current or future home, visit listsothebysrealty.com and contact one of our experienced agents.
That’s the Oahu Quarterly Luxury Market Report for this quarter. Check back soon for the latest.
All Data from the HiCentral MLS, Ltd. Report © 2021 ShowingTime.